Buffalo Wild Wings clipped by downgrade

MattAndrejczak

SAN FRANCISCO (MarketWatch) -- High-flying shares of Buffalo Wild Wings
BWLD, +0.63%
got clipped Friday after Wedbush Securities downgraded the restaurant chain to neutral from outperform. Shares fell 2% to $87.19 in early morning trades. Wedbush analyst Nick Setyan said chicken wing costs are showing no signs of easing. For the first quarter, he estimates wings will cost Buffalo Wild Wings $2.04 a pound, on average. The company's average cost on a quarterly basis over the past five years has been $1.39 a pound. Setyan shaved his 2012 profit forecast on Buffalo Wild Wings by 4 cents to $3.27 a share. He kept his $90 stock-price target. Since Jan. 1, Buffalo Wild Wings shares are up 29%, outpacing the 11% gain for the S&P Small Cap 600 Index.

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